Tesla: Back on Track?

Tesla has resumed downward momentum, aligning with our primary scenario and moving away from resistance at $373.04. As part of the ongoing turquoise wave 5, we expect continued selling pressure: it should break below the $215.01 support. This would complete magenta wave (3) of the current bearish impulse. A reversal back above $373.04 – and especially a breach of $405.54 – would force us to adopt the 38% likely alternative scenario. Under this count, the correction low of blue wave alt.(II) would be already in, and Tesla would now be rallying in wave alt.(III).

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